Written one week before the current Wall Street tumble, economist Nomi Prins writes: Watch out. Even in the seemingly best of times, neglecting Wall Street is a dangerous idea. With a rag-tag Trumpian crew of ex-bankers and Goldman Sachs alumni as the only watchdogs in town, it’s time to focus, because one thing is clear: Donald Trump’s economic team is in the process of making the financial system combustible again.
In These Times
When the heirs and heiresses of billionaire fortunes can take over an entire political party and force them to pass public policies that the vast majority of even their own voters don't want, there is a problem with democracy. A conversation with Michael Kink, executive director of the Strong Economy for All Coalition.
Portside is proud to bring our readers a full chapter from the book Imagine: Living in a Socialist USA. Periodically Portside will be sharing with our readers chapters and excerpts from books we feel are noteworthy. What better way to launch, than a book about socialism-in the USA. Ron Reosti's chapter - A Democratically Run Economy Can Replace the Oligarchy - argues we can democratically design and control an economy that satisfies the needs and desires of the people.
Open Secrets / Sunlight Foundation
Playing God - The Rebirth of Family Capitalism or How the Koch Brothers, Sheldon Adelson, Sam Walton, Bill Gates, and Other Billionaires Are Undermining America
Think of this as the year that democracy of, by, and for the billionaires shall not perish from the Earth. In other words, these days, if you have billions of dollars, you can shout from the skies and the rest of us have to listen. They are: Sheldon Adelson, Charles and David Koch, Sam Walton, Rupert Murdoch, Linda McMahon, or hedge fund honchos like John Paulson and Steven Cohen.
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In These Times